Startup Professionals Musings

JUNE 15, 2020

Most entrepreneurs spend far too much time thinking negatively about competitors, and can’t resist making derogatory statements to their own team, to investors, and even to customers. As an investor, I always listen carefully to what an entrepreneur says, and does not say, about competition.

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Startup Professionals Musings

NOVEMBER 16, 2020

As a business advisor and advocate for entrepreneurs, I find myself almost always talking and writing about change. Yet there are many things about business and work that haven’t changed for a long time, and don’t need to change anytime soon. This is not about clocking in to work. Anything less makes you non-competitive.

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Startup Professionals Musings

OCTOBER 31, 2022

If you are not sure of your best fit, like many people I know, I just found help in a new book, “ The 6 Types of Working Genius ,” by Patrick Lencioni. He brings real-life insights from his organizational health work with thousands of business leaders around the globe. In my experience, competition is the biggest challenge here.

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Activity Satisfaction Metrics Startup 108

Startup Professionals Musings

FEBRUARY 27, 2023

Most aspiring entrepreneurs look to their alma mater, or any university, as a source of classes that can help them, but neglect to think outside the box or take advantage of all the other resources to be found there. Access to entrepreneurs-in-residence, business mentors. Access to intellectual property and current research.

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Startup Professionals Musings

APRIL 4, 2021

Many entrepreneurs waste too much time on low-priority administrative tasks, procrastinating on higher priority but tougher tasks, resulting in last minute crises, and failure to complete the critical work that people are really expecting of them. Pacing yourself will take you further than non-stop working. Avoid these.

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Startup Professionals Musings

DECEMBER 14, 2019

Don’t bash the competition. Every investor knows how vulnerable a new startup is to competitors, so investors always ask about your sustainable competitive advantage in the marketplace. That says you are competitive today, have a real barrier to entry, and the potential to remain ahead of the competition for a long time.

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Startup Professionals Musings

OCTOBER 7, 2023

Every entrepreneur I know can’t find enough hours in a day to do the good things they want, and yet they often find themselves saying yes to new requests. In addition to saying yes too often, some entrepreneurs under pressure say no poorly, by attacking the requestor or by avoiding any definitive response.

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Startup Professionals Musings

JUNE 19, 2023

Every entrepreneur has an idea for transforming a market with innovative new technology, or transforming society with a new process. Entrepreneurs who have been really transformative, like Steve Jobs and Walt Disney, seemed to know how to deal with all the right elements. It doesn’t always work the other way around.

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Both Sides of the Table

JANUARY 29, 2010

This is part of my series on what makes an entrepreneur successful. I originally posted it on VentureHacks , one of my favorite websites for entrepreneurs. I started the series talking about what I consider the most important attribute of an entrepreneur : Tenacity. I like to work with people who hate to lose.

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Startup Professionals Musings

DECEMBER 21, 2020

Most entrepreneurs, and members of any small team, naively assume that the key to their success is hard work, dedication, and long hours in the business. In reality, their effectiveness is usually more related to how well they develop their work relationships with peers and business leaders. Workship - Mentor. Friendship.

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Startup Professionals Musings

DECEMBER 19, 2022

As a startup advisor, I see many aspiring entrepreneurs whose primary motivation seems to be to work part time, or get rich quick, or avoid anyone else telling them what to do. Yet, for those with more realistic expectations and the right motivation, the entrepreneur lifestyle can be the dream life you envisioned.

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Startup Professionals Musings

JULY 10, 2023

Most of the time, I’m all about providing encouragement and inspiration to entrepreneurs. They need it and they deserve it, because entrepreneurs are the lifeblood of our economy. The real work begins when you have to deliver the results you promised. The reality of working. Then the reality of work sets in.

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Berkonomics

APRIL 11, 2019

An entrepreneur pitches using a deck with no slide for competition. We have no competition.”. Professional investors laugh when they hear an entrepreneur come out with that one. It is a failed litmus test for the entrepreneur, even if the plan is for a totally new device or service that could take the world by storm.

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Startup Professionals Musings

JULY 4, 2020

For all entrepreneurs, starting a business is the route to “life, liberty, and the pursuit of happiness,” no matter how risky. According to a classic article and poll by Startups.co.uk , having the independence to make your own decisions is considered the key benefit of being an entrepreneur. Flexible work hours and conditions.

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Startup Professionals Musings

DECEMBER 19, 2020

In business, the only thing that counts is results, not how hard people work or how many hours they put in. Have you noticed in your startup or around your office that some people are always at work and busy, but others seems to consistently get more done? Define more activities as unimportant. All business tasks are not created equal.

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Startup Professionals Musings

AUGUST 10, 2020

Technology is so key to every business these days that experienced business-smart but non-tech entrepreneurs are feeling deeper and deeper in the hole. Only one component of running a business is managing technology, but it is a critical component, so no entrepreneur can afford to ignore it or totally delegate it.

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Startup Professionals Musings

OCTOBER 29, 2022

These days, everyone wants to be an entrepreneur, pitching their latest and greatest new idea, and looking for someone to give them money. Talk is cheap, but entrepreneurs who show you a working model of their idea know how to execute. Time is money, and may be your primary competitive advantage.

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Startup Professionals Musings

DECEMBER 11, 2022

After many years of working with angel investors seriously trying to find new ventures worthy of their hard-earned money, I find their frustration often exceeds that of entrepreneurs sincerely looking for financial help. Smart entrepreneurs pre-disclose any possible due diligence issues, with full and open explanations and no excuses.

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Startup Professionals Musings

DECEMBER 4, 2022

As a startup advisor and investor, I’ve met many aspiring entrepreneurs, and I often get asked the question, “I have a great idea for a startup – do you agree that it real potential?” Of course, you do need to consider how often that strategy has worked for you, and how often it backfired. A startup is no place for the Lone Ranger.

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Startup Professionals Musings

JANUARY 7, 2023

As an entrepreneur mentor and startup investor, I see with sadness the 50 to 90 percent that fail. More than one smart entrepreneur has been caught in the lofty lifestyle of big money investors, viral growth, and movie star status. A smart entrepreneur learns to embrace failure as a badge of learning that provides a competitive edge.

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Startup Professionals Musings

MARCH 15, 2023

As an advisor to entrepreneurs and active angel investor, I often get questions about the realism of the Shark Tank TV series, compared to professional investor negotiations. Yet the process is eerily realistic, and every entrepreneur can glean some important lessons. Personalize your presentation, if possible, for every investor.

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Startup Professionals Musings

OCTOBER 9, 2020

Also, more people are only available to work remotely , especially with the current pandemic. The traditional model for hiring permanent employees who can grow their career with your company just doesn’t work, and can jeopardize your business before it even gets traction. Focus on a very flat organization, with minimal hierarchy.

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Startup Professionals Musings

AUGUST 30, 2021

Therefore, the least you can do is take advantage of some of the self-assessment tools and guides around, like the classic book “ The Entrepreneur Equation ,” by Carol Roth, which highlights personal characteristics and skills required. Evaluate how well you work with others. Examine the marketplace and your competition.

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Startup Professionals Musings

SEPTEMBER 23, 2020

A continuing question I hear from young entrepreneurs is whether a university degree is important to startup success, or just a distraction in achieving their purpose in the world. Every school recognizes the power of “hands-on” work to help you develop your own ideas into a business. Write a business plan and pitch deck for learning.

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Startup Professionals Musings

DECEMBER 13, 2021

In my role as mentor to many of you aspiring entrepreneurs, I often find you convinced that all you need to start is a unique innovation or idea , and now you are ready to jump in with both feet and enjoy the ride. Remember that being an entrepreneur is all about starting and running a business, after the initial invention.

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Satisfaction Entrepreneur Startup Mentor 135

Startup Professionals Musings

OCTOBER 19, 2020

Most of the time, I’m all about providing encouragement and inspiration to entrepreneurs. They need it and they deserve it, because entrepreneurs are the lifeblood of our economy. The real work begins when you have to deliver the results you promised. The reality of working. Then the reality of work sets in.

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Entrepreneur Sample Guide Ideas 174

Startup Professionals Musings

JANUARY 25, 2021

Every entrepreneur I know can’t find enough hours in a day to do the good things they want, and yet they often find themselves saying yes to new requests. In addition to saying yes too often, some entrepreneurs under pressure say no poorly, by attacking the requestor or by avoiding any definitive response.

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Tips Startup Entrepreneur Conference 159

Both Sides of the Table

NOVEMBER 16, 2014

You have this tension between on the one side being a micro-manager (by which great people won’t want to work with you) or being hands off (and having quality lapses or team alignment issues). If you hire truly talented people you end up definitionally with a lot of competitive peers who will inevitably jockey for resources and control.

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Startup Professionals Musings

MAY 24, 2014

Both are required to stay competitive. Much has been written about the trends on the customer side, but I find less specific guidance on the changes which are impacting the way we interact with peers at work. When and where you do the work does not matter; producing the outcomes to the right quality on time does.

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Entrepreneur Startup Social Media Yammer 104

Startup Professionals Musings

DECEMBER 30, 2020

In my role as a mentor to aspiring entrepreneurs, I find that most have the technical challenges well understood, but many are a bit short on some basic street smarts , or basic business realities. Thus I often recommend that before you kick off your own business, you join another startup or existing business to see how things really work.

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Startup Professionals Musings

OCTOBER 4, 2021

Certainly that has been the strategy of many companies, and has worked in the past, but today’s customers and workers are looking for more. I believe these steps are especially critical to the success of entrepreneurs who are rolling out new businesses today. Competitive and leadership leverage.

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Startup Professionals Musings

JUNE 27, 2015

Both are required to stay competitive. Much has been written about the trends on the customer side, but I find less specific guidance on the changes which are impacting the way we interact with peers at work. When and where you do the work does not matter; producing the outcomes to the right quality on time does.

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Entrepreneur Yammer Case Study Study 102

Startup Professionals Musings

SEPTEMBER 6, 2020

His focus is on sales, but I see the same skills needed for entrepreneurs. His top eight required skill set elements for sales don’t even mention product skills, and match my view of the right skill set for successful entrepreneurs, with only a few priority changes: Creating and sharing a vision. Negotiating and creating win-win deals.

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Startup Professionals Musings

MARCH 27, 2020

As a startup advisor, I see many aspiring entrepreneurs whose primary motivation seems to be to work part time, or get rich quick, or avoid anyone else telling them what to do. Yet, for those with more realistic expectations and the right motivation, the entrepreneur lifestyle can be the dream life you envisioned.

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Startup Professionals Musings

JUNE 7, 2020

I recognize that entrepreneurs tend to substitute vision and passion for formal processes, but using no discipline or process in building something new is a sure way to spend money, rather than see any return and build a self-sustaining business. No mention usually means no plan and not competitive. Team building status and plan.

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Startup Professionals Musings

DECEMBER 11, 2019

He is regarded by many as the number-one authority on virtual staffing and personal outsourcing, and is himself a successful entrepreneur based in the Philippines. I was impressed with his summary of the top ten outsourcing mistakes made by entrepreneurs, followed by real guidance on how they can and should be avoided.

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Outsource Development Outsource Entrepreneur Summary 121

Startup Professionals Musings

MAY 23, 2021

Anyone who works with entrepreneurs will tell you that all are different. These are the ultimate chess players in the game of business, always looking to be two or three moves ahead of the competition. The Opportunist is the speculative part of the entrepreneur in all of us. But none have any lock on success. Opportunist.

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